Accounting and advisory firm BDO has signed up to use SuperConcepts’ SMSF software platform, SuperMate, taking advantage of a raft of changes and upgrades implemented since July 2023.
SuperConcepts stated the enterprise-level cloud-based software had undergone 580 enhancements in the past 12 months and now had a new web interface, improved process automation and artificial intelligence capabilities that would allow BDO to deliver efficient and integrated services to its clients.
The firm noted significant investment had also been made into new developments in the platform’s workflow, adviser and client view, and client query facilities, as well as in its bank account verification features to help combat fraud.
It added the collaboration with BDO had the potential to redefine how SMSF services are delivered in Australia and the new partnership underscores SuperMate’s position as a trusted solution for large-scale SMSF administration.
“SuperMate holds circa 30 per cent market share of SMSF providers lodging more than 500 funds with the ATO, we are the right choice for large firms offering SMSF services at scale,” SuperConcepts chief technology officer Andy Forbes said.
“With a dedicated migration team, switching to SuperMate is a concierge experience ensuring a seamless adoption and transition from our competitors.”
BDO superannuation partner Paul Rafton said: “Selecting SuperMate means that BDO can leverage the innovative platform to provide our clients with quality SMSF administration services.”
SuperMate is the third-largest SMSF software solution in Australia and in August last year entered into an enterprise service agreement to handle the SMSF small Australian Prudential Regulation Authority fund (SAF) clients of Australian Executor Trustees, which was purchased by Equity Trustees, which opted to no longer handle SMSF and SAF customers internally.
Earlier this year, SuperConcepts signed a SuperMate integration arrangement with ASF Audits allowing users of the software to send funds for an audit and receive a report within the program without having to carry out any manual processes.
The ongoing updates and partnerships follow a change of ownership in July 2023 when AMP sold SuperConcepts to a private management group for $8 million.
